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Medicare Supplement/ Medigap

  • Medicare Supplement, also known as Medigap, is a type of health insurance policy that is designed to fill in the "gaps" in coverage that are left by Original Medicare (Parts A and B). Medicare Supplement plans are offered by private insurance companies and can help cover out-of-pocket costs such as deductibles, copayments, and coinsurance.
  • There are ten standardized Medicare Supplement plans available, identified by letters A through N. Each plan offers a different set of benefits, with Plan A being the most basic and Plans F and G offering the most comprehensive coverage. However, as of January 1, 2020, Plan F is no longer available to newly eligible Medicare beneficiaries.
  • Medicare Supplement plans generally do not cover services that are not covered by Original Medicare, such as dental, vision, or hearing care. Additionally, Medicare Supplement plans do not typically include prescription drug coverage, so beneficiaries may need to enroll in a separate Medicare Part D plan to obtain this coverage.
  • To enroll in a Medicare Supplement plan, you must already be enrolled in Medicare Parts A and B. It's important to note that Medicare Supplement plans can be more expensive than Medicare Advantage plans, but they can also offer more comprehensive coverage and greater flexibility in terms of provider choice.
  • Before enrolling in a Medicare Supplement plan, it's recommended that you carefully compare the benefits, costs, and network of providers to ensure that it meets your specific health care needs and budget.

Medigap policies don't cover everything.

Medigap policies generally don't cover:

  • Prescription Drugs
  • Long-term care (like non-skilled care you get in a nursing home)
  • Vision or dental services
  • Hearing aids
  • Eyeglasses
  • Private-duty nursing
  • MedicarePart A co-insurance costs up to an additional 365 days after Medicare benefits run out; co-insurance or co-payments for hospice care
  • Medicare Part B co-insurance or co-payments
  • Up to three pints of blood other services covered depending on the plan:
  • Skilled nursing facility care co-insurance.
  • Part A deductible
  • Part B deductible(no longer covered for new Medicare beneficiaries)
  • Part B excess charges
  • Foreign travel emergency care

“All insurance companies selling a particular Medigap plan type in your area must offer the same coverage but may offer it at different prices. So, you may want to shop for the best price.”